Was Trump Correct About Tariffs After All? – OpEd

Trump’s recent Wall Street Journal piece is not just a defense of tariffs. It is a claim of intellectual discovery in economics. He argues, in effect, that the vast majority of experts have been looking at tariffs backward, and that his critics keep repeating a superstition: tariffs are a tax on Americans. In his telling, tariffs are a way to make foreigners pay, raise revenue, boost domestic production, and still keep inflation tame.

If Trump remains fixated on the Nobel Peace Prize, he is aiming at the wrong category.